Stanley Ho, 89, Says He’s on Track Toward Recovery

Shun Tak Holdings Ltd., the ferry operator and property developer controlled by Stanley Ho’s family, said the Macau billionaire remains as the company’s chairman and is on track toward a full recovery.

Ho, 89, is “grateful for the public’s concerns” over his health, the company said in an e-mailed statement today. He will “actively steer strategic decisions” at the company.

Ho was hospitalized in August last year following an accident and confined for seven months after undergoing two surgeries. Shun Tak announced yesterday that Ho cut his direct ownership in the company in favor of two holding companies in which his children have stakes.

“The transfer of shares is solely an internal reorganization of his personal interest within Shun Tak,” the company said. “The transfer will have no impact on the company’s overall development direction and management style.”

To contact the reporter on this story: Wing-Gar Cheng in Hong Kong at wgcheng@bloomberg.net

To contact the editor responsible for this story: Tom Kohn at tkohn@bloomberg.net

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